Question 1

Which of the following statements is true of the market development strategy?

Accepted Answer

A)  It requires the creation of a new product. 
B)  It focuses on segments that are not currently served by a firm. 
C)  It primarily focuses on developing innovative offerings. 
D)  It requires products to be maintained at high prices. 
E)  It employs rewards programs and improved store atmospherics. 
A)  It requires the creation of a new product. 
B)  It focuses on segments that are not currently served by a firm. 
C)  It primarily focuses on developing innovative offerings. 
D)  It requires products to be maintained at high prices. 
E)  It employs rewards programs and improved store atmospherics.

Question 2

Which of the following is the growth strategy that employs an existing marketing offering to reach new market segments?

Accepted Answer

A)  Market development 
B)  Product development 
C)  Diversification strategy 
D)  Market penetration 
E)  Product intensification 
A)  Market development 
B)  Product development 
C)  Diversification strategy 
D)  Market penetration 
E)  Product intensification

Question 3

Which of the following observations,if made by the external agency,will present the company with an opportunity?

Accepted Answer

A)  The company has exclusive market reach in the packaged food industry. 
B)  One of Arpin Stores' major competitors has recently gone bankrupt. 
C)  The company owns the largest food manufacturing facility in the United States. 
D)  The company owns many brands that are well known in the United States. 
E)  Arpin Stores has a stronger marketing department compared to its competitors. 
A)  The company has exclusive market reach in the packaged food industry. 
B)  One of Arpin Stores' major competitors has recently gone bankrupt. 
C)  The company owns the largest food manufacturing facility in the United States. 
D)  The company owns many brands that are well known in the United States. 
E)  Arpin Stores has a stronger marketing department compared to its competitors.

Question 4

According to the Boston Consulting Group (BCG)matrix,Indigo is called a:

Accepted Answer

A)  question mark. 
B)  cash cow. 
C)  star. 
D)  dog. 
E)  champion. 
A)  question mark. 
B)  cash cow. 
C)  star. 
D)  dog. 
E)  champion.

Question 5

List a few financial performance metrics that an organization commonly uses.

Accepted Answer

Some commonly used metrics to

Question 6

Which of the following refers to the process of classifying a market into distinct groups of customers where each individual group has similar needs,wants,or characteristics?

Accepted Answer

A)  Downsizing 
B)  Positioning 
C)  Locational excellence 
D)  Segmentation 
E)  Diversification 
A)  Downsizing 
B)  Positioning 
C)  Locational excellence 
D)  Segmentation 
E)  Diversification

Question 7

In the Boston Consulting Group (BCG)portfolio analysis,products that are in low-growth markets and have relatively low market shares are called:

Accepted Answer

A)  slackers. 
B)  stars. 
C)  dogs. 
D)  cash cows. 
E)  question marks. 
A)  slackers. 
B)  stars. 
C)  dogs. 
D)  cash cows. 
E)  question marks.

Question 8

Which of the following is the growth strategy that offers a new product or service to a firm's current target market?

Accepted Answer

A)  Product intensification 
B)  Diversification 
C)  Market penetration 
D)  Product development 
E)  Market development 
A)  Product intensification 
B)  Diversification 
C)  Market penetration 
D)  Product development 
E)  Market development

Question 9

Which of the following is the marketing strategy that employs an existing marketing mix and focuses a firm's efforts on existing customers?

Accepted Answer

A)  Product diversification 
B)  Market diversification 
C)  Market development 
D)  Market penetration 
E)  Product development 
A)  Product diversification 
B)  Market diversification 
C)  Market development 
D)  Market penetration 
E)  Product development

Question 10

Lack of financial resources is an example of a threat that a company is facing.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is Lunar Inc.most likely to do as part of its strategy?

Accepted Answer

A)  It will declare discounts on its products. 
B)  It will expand its operation to new countries. 
C)  It will start producing laptop accessories. 
D)  It will launch a series of laptops exclusively designed for children. 
E)  It will roll back less successive models of laptops. 
A)  It will declare discounts on its products. 
B)  It will expand its operation to new countries. 
C)  It will start producing laptop accessories. 
D)  It will launch a series of laptops exclusively designed for children. 
E)  It will roll back less successive models of laptops.

Question 12

Explain situation analysis.

Accepted Answer

After developing its mission,a firm must

Question 13

Briefly explain the four Ps of marketing.

Accepted Answer

The four Ps are as follows: • Product: P

Question 14

Market development strategy employs the existing marketing mix and focuses the firm's efforts on existing customers.

Accepted Answer

A) True 
 B)False

Question 15

Promotion is associated with value creation.

Accepted Answer

A) True 
 B)False

Question 16

Product excellence occurs by having offerings with high perceived value and effective branding and positioning.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is the final step in the marketing planning process of an organization?

Accepted Answer

A)  Performing a situational analysis of an organization 
B)  Identifying the opportunities present in a market 
C)  Evaluating the business objectives of an organization 
D)  Evaluating the performance by using marketing metrics 
E)  Implementing the marketing mix within an organization 
A)  Performing a situational analysis of an organization 
B)  Identifying the opportunities present in a market 
C)  Evaluating the business objectives of an organization 
D)  Evaluating the performance by using marketing metrics 
E)  Implementing the marketing mix within an organization

Question 18

Roltech Limited is a telecom company that operates GSM networks in six countries.Roltech's top managers identify that the company's growth has been idle for a few years and decide to take these steps to promote growth: (1)Increase the spending on advertising and intensify promotional activities.(2)Open telecom companies in more countries.(3)Introduce special tariffs to attract more customers from existing markets.Which of the following strategies have Roltech's top managers decided to adopt?

Accepted Answer

A)  Intensification and diversification 
B)  Product development and diversification 
C)  Market penetration and market development 
D)  Product intensification and product development 
E)  Segmentation and market diversification 
A)  Intensification and diversification 
B)  Product development and diversification 
C)  Market penetration and market development 
D)  Product intensification and product development 
E)  Segmentation and market diversification

Question 19

Which of the following observations,if made by the external agency,will indicate the company's weakness?

Accepted Answer

A)  The company incurs high transportation costs as its manufacturing facility is at a remote place. 
B)  The wholesale food industry has seen an influx of new players in recent times. 
C)  An economic downturn has increased people's liking for organic products. 
D)  A food poisoning disaster that occurred recently has lowered people's preference for packaged foods. 
E)  The government has imposed a new tax on packaged food industry. 
A)  The company incurs high transportation costs as its manufacturing facility is at a remote place. 
B)  The wholesale food industry has seen an influx of new players in recent times. 
C)  An economic downturn has increased people's liking for organic products. 
D)  A food poisoning disaster that occurred recently has lowered people's preference for packaged foods. 
E)  The government has imposed a new tax on packaged food industry.

Question 20

A product line consists of a group of dissimilar products.

Accepted Answer

A) True 
 B)False

Which of the following statements is true of the market development strategy?

Which of the following is the growth strategy that employs an existing marketing offering to reach new market segments?

Which of the following observations,if made by the external agency,will present the company with an opportunity?

According to the Boston Consulting Group (BCG)matrix,Indigo is called a:

List a few financial performance metrics that an organization commonly uses.

Which of the following refers to the process of classifying a market into distinct groups of customers where each individual group has similar needs,wants,or characteristics?

In the Boston Consulting Group (BCG)portfolio analysis,products that are in low-growth markets and have relatively low market shares are called:

Which of the following is the growth strategy that offers a new product or service to a firm's current target market?

Which of the following is the marketing strategy that employs an existing marketing mix and focuses a firm's efforts on existing customers?

Lack of financial resources is an example of a threat that a company is facing.

Which of the following is Lunar Inc.most likely to do as part of its strategy?

Explain situation analysis.

Briefly explain the four Ps of marketing.

Market development strategy employs the existing marketing mix and focuses the firm's efforts on existing customers.

Promotion is associated with value creation.

Product excellence occurs by having offerings with high perceived value and effective branding and positioning.

Which of the following is the final step in the marketing planning process of an organization?

Which of the following observations,if made by the external agency,will indicate the company's weakness?

A product line consists of a group of dissimilar products.

Overview of Marketing

Marketing Ethics

Analyzing the Market Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Developing New Products

Services: The Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Filters

Exam 2: Developing Marketing Strategies and a Marketing Plan

Which of the following statements is true of the market development strategy?

Which of the following is the growth strategy that employs an existing marketing offering to reach new market segments?

Which of the following observations,if made by the external agency,will present the company with an opportunity?

According to the Boston Consulting Group (BCG)matrix,Indigo is called a:

List a few financial performance metrics that an organization commonly uses.

Which of the following refers to the process of classifying a market into distinct groups of customers where each individual group has similar needs,wants,or characteristics?

In the Boston Consulting Group (BCG)portfolio analysis,products that are in low-growth markets and have relatively low market shares are called:

Which of the following is the growth strategy that offers a new product or service to a firm's current target market?

Which of the following is the marketing strategy that employs an existing marketing mix and focuses a firm's efforts on existing customers?

Lack of financial resources is an example of a threat that a company is facing.

Which of the following is Lunar Inc.most likely to do as part of its strategy?

Explain situation analysis.

Briefly explain the four Ps of marketing.

Market development strategy employs the existing marketing mix and focuses the firm's efforts on existing customers.

Promotion is associated with value creation.

Product excellence occurs by having offerings with high perceived value and effective branding and positioning.

Which of the following is the final step in the marketing planning process of an organization?

Which of the following observations,if made by the external agency,will indicate the company's weakness?

A product line consists of a group of dissimilar products.

Overview of Marketing

Marketing Ethics

Analyzing the Market Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Developing New Products

Services: The Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Filters